USOIL beginning new downtrend?
Drill baby drill. This will cause a large influx of oil supply, outweighing demand, which will reduce oil prices.
On the chart, we are seeing oil selling off against the bearish 200MA right now.
This may very well likely be the beginning of the new downtrend.
Between lower interest rates in the coming year and lower gas prices, the economy should have enough stimulus to overlook the effect of tariffs.
On the chart, we are seeing oil selling off against the bearish 200MA right now.
This may very well likely be the beginning of the new downtrend.
Between lower interest rates in the coming year and lower gas prices, the economy should have enough stimulus to overlook the effect of tariffs.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.